Latest 17th Feb 2023 Current Affairs News for Exam Prep

Practice Mode:
6.

Which is the first app to offer cross-border UPI service

A: PayTM
B: PhonePe
C: Google Pay
D: BharatPe

The answer is: B

Explanation

PhonePe has recently launched UPI international, which makes it the first fintech app in India to offer this feature. UPI international is designed to provide a safe and easy way for millions of Indians traveling overseas to make transactions. With this feature, PhonePe users will be able to use their Indian bank accounts to make transactions in foreign countries, without the need for a separate forex card or a bank account in the foreign country. The UPI international feature is expected to simplify the process of making transactions for Indians traveling abroad, and it also has the potential to reduce the cost and complexity of international transactions. This is a significant development in the Indian fintech industry, and it is expected to further accelerate the adoption of digital payments in the country.